The economy is affected by many factors that determine if it is strong or weak. These factors are determined by the rate at which buyers consume goods and services. Are the goods and services that are consumed by people treated wealth, jobs and a better overall economy for a country? Throughout history some economies have evolved faster and stronger than others. Policies that the government places on industry, technology and the environment can all affect the prosperity of an economy. One of the factors that affect economic growth is state oil and gas industry.
When evaluating the economic growth factor of economy, specifically oil and gas, one must consider the following questions:
What relationship does the factor have with the whole economy?
How does this factor affect economic growth?
Is the factor a cause or effect of economic growth?
What would the economy be like if there were significant problems with this factor?
What relation does a central bank have to this factor?
The current economy in the US today is greatly affected by oil and gas industry. Instead of investing oil profits into the country's future (which is not very bright as of late), the leaders of this country used the money to make themselves rich, and left the country in political and economic disarray. Instead, economies of this country is in a state of flux. Alternative energy sources that could used to give the economy stability and allow for this country's GNP to grow in a slow, steady, and positive way. Many windows of employment opportunity will open. Especially the middle class. The building of a strong middle-class will allow for US to prosper for many years to come. Investing in the growth of the solar and wind industries will create more job openings. More jobs filled will result in a lower unemployment rate and a higher national per capita income. Oil and gas are resources that can be depleted. On the other hand, the sun and wind are always available. Maybe not at a constant rate, but they are more efficient and environmentally friendly! Looking throughout history, there have been fluctuations in gas and oil prices you have vast fluctuations in the economy, not only the US but also other countries as well.
4 comments:
Hoorah for solar energy! I love how you gave an honest assessment of the current energy crisis but then suggested helpful solutions for the future. Don't worry about the economy though-I did enough shopping this week to make it rebound singlehandedly. HA HA!
haha I actually did too! I should be saving but I couldn't help myself! But in all seriousness we need a solution and hopefully Obama fixes some of the major crises that we are facing.
Ekin, I love you blog it was very educational and the video was a very good visual ad.It really get a person to start to understand that everything little that we do or take for granted can hurt our environment. This is a an on going problem that needs to be resolved quickly or else we will have and even bigger problem in the future. I have recently just read an article on green living which is something very similar to what you are saying we should do. I believe that solar energy is the way to go. I also believe that if this problem is ever going to be solved people need to become more educated on it. And thats what i think your blog did! Love it!
Hey Chambo,
If you want to know more about alternative resources, I have some blogs there are very educational and a lot better looking then mine. :) I added them on the right side bar so feel free to check their blogs out as well.
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